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Episodes
Tuesday Jul 11, 2023
Tuesday Jul 11, 2023
New and used car prices, sky-high interest rates and the looming impacts of inflation. Director of Finance Company Markets, Suzi Straffon, breaks down the latest trends in Auto Finance.
In this episode…
[0:31] Meet Suzi Straffon
[1:35] How did we get here?
[2:34] I saw an interesting stat – 88% rise in index pricing from April 2020-January 2022.
[5:25] Also on the table is a potential recession, many analysts expect a mild recession.
[8:00] Things that are affecting default rates.
[9:27] It’s really expensive to own a vehicle.
[9:41] The average transaction price for a new vehicle is $48,700.
[11:05] Used car prices have come down.
[13:38] Vehicle affordability is going to continue to be a challenge.
[16:07] The CFPB’s focus the last few years and how lenders are responding.
[19:01] Right now, there is a big competition for loan share.
[21:45] In this market, would you purchase new or used?
Monday Jun 05, 2023
Monday Jun 05, 2023
Allied’s Senior Vice President, Client Experience and Risk Management Services Anne Holtzman joins the podcast to talk about why CPI is such a hot topic. Anne covers what she’s been seeing in 2023, the effects of a booming used car market, challenges FIs are facing, and her predictions for the backend of the year.
In this episode...
[0:26] Meet Anne Holtzman
[3:46] Why CPI, why is this such an important topic?
[6:10] In 2023, we've seen the highest auto default rates now up to almost 0.94%.
[6:26] A decline in automobile car values.
[8:19] The average interest rate on a used vehicle is 10.5%.
[9:17] Continue to see restricted demand on vehicles as we move through 2023 and 2024.
[11:10] With inflation, a much higher cost to repair vehicles.
[11:52] Delinquency or deficiency balances, are going to return.
[12:34] If you're not lending, then the focus is always on risk mitigation.
[13:50] About 36% of the repossession agent market was lost.
[14:28] We are going to see decreased recovery rates and an increased need for technology.
[18:49] What are your market predictions going into the back half of 2023?
[19:06] Are vehicles going to be affordable for the main-line consumer?
[19:50] Technology, digital engagement, and AI are going to make a big mark.
[20:39] 2024 will be a year of refinance.
Thursday Mar 30, 2023
Thursday Mar 30, 2023
The need for deposit solutions is on the rise. Allied Solutions' Charlie Peterson breaks down traditional and non-traditional solutions to help Credit Unions navigate turbulent economic times.
In this episode...
[0:28] Meet Charlie Peterson[1:51] Liquidity Crisis -- why so much “hype” around it?[3:22] Organic lending is starting to come back, and people are getting nervous because...[4:00] 75% of CFOs are nervous, 25% are “game on”.[5:44] Strategic planning became a strategic adjustment conversation.[6:33] Nontraditional ways institutions can achieve the same goals...[7:01] What is a “broker deposit”?[10:01] When looking into an investment or new deposits, talk to your regulator.10:32 You need a solution that is more infrastructure based.11:02 If you are not able to give your members or consumers what they need, that’s a high cost.[12:25] At the end of the day the low-income credit unions (LICUs) have a greater demand (for deposits).[12:45]: A: Can CUs use secondary capital in conjunction with DTC eligible share certificates/ broker deposits? absolutely![13:14] Its most important that you are looking to bring the deposits in the door.13:47 Time is an enemy, right now pull the trigger and make a decision on what you want to do... make more loans to your members.[14:00] Newer channels available to financial institutions - technology, everything is technology.14:38: From a consumer’s perspective...[17:32] 83% of all internet traffic is estimated to be streaming and video.[18:12] A homework assignment for listeners- open an account with your competitors.[19:49] If a customer experience is strong, WOM is one of the best things that can happen.
Monday Jan 30, 2023
Monday Jan 30, 2023
Today, we’re recapping the top stories from 2022 with Allied Solutions’ Senior Vice President and Chief Growth Officer, Mark Bugalski, as well as outlining Top Trends for 2023.
In this episode…
[0:51] Meet Mark Bugalski
[2:08] A lot happened in 2022
[2:35] Preparing for a liquidity crisis
[3:55] There’s good news and bad news when it comes to balancing a portfolio in a liquidity crisis.
[5:21] It’s important to be conscious of non-interest income opportunities.
[6:11] Make sure there is a process in place to do short and long-term forecasting.
[7:06] General consensus in the industry, the fed is looking to stabilize their policy in 2023 which should help guard against massive interest rate spikes.
[8:53] How digital should an institution get?
[10:08] It’s about providing options when it comes to engaging your ideal customer.
[11:49] Even today, a lot of employers still struggle with the idea of attracting and retaining good employees and it goes beyond compensation.
[13:15] I believe that if you have a digital delivery channel or strategy, it just supplements the human and relationship aspect of how people want to do business.
[14:29] Why is video such a big deal?
[17:45] That’s probably one of the most exciting aspects of SundaySky is we’re enabling our clients to help accomplish a lot of things they want to get done internally but they have had to historically outsource.
[19:48] What should we expect out of 2023?
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